An example of a composite electronic component of the related art is disclosed in Japanese Unexamined Patent Application Publication No. 2008-130694. This composite electronic component includes a substrate, a coil element that is arranged on one surface of the substrate, and a capacitance element that is arranged on another surface of the substrate. A first surface of the coil element is arranged on the one surface of the substrate, and a first surface of the capacitance element is arranged on the other surface of the substrate. When the composite electronic component is to be mounted on a mounting substrate, connection terminals are provided on the second surface of the capacitance element on the opposite side from the first surface, and the connection terminals are connected to the mounting substrate.
In the composite electronic component of the related art, the substrate has to be provided in order to integrate the coil element and the capacitance element with each other, and therefore the composite electronic component cannot be reduced in size. In addition, when the composite electronic component is to be mounted on a mounting substrate, connection terminals have to be provided on the second surface of the capacitance element, and this takes time and labor for the work involved.